NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In

Advertisement
Advertise with NZME.
Home / Business / Markets / Shares

NZ Oil & Gas leads index to record

BusinessDesk
4 Nov, 2014 04:00 PM3 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

New Zealand Oil & Gas shares were up 3.4 per cent yesterday to 76c.
New Zealand Oil & Gas shares were up 3.4 per cent yesterday to 76c.

New Zealand Oil & Gas shares were up 3.4 per cent yesterday to 76c.

Energy explorer tells shareholders of plans to return $60m to them as market closes on ninth high in a row

New Zealand shares rose yesterday, pushing the NZX 50 Index to its ninth straight record close, as New Zealand Oil & Gas signalled plans for a capital return given cash flow from production at its Tui oil field.

Dividend-paying stocks, including Meridian Energy and Mighty River Power paced decliners.

The benchmark index rose 5.04 points, or 0.1 per cent, to 5423.26. Within the index, 18 stocks rose, 22 stocks fell, and 10 stocks were unchanged. Turnover was a lighter-than-usual $83 million.

New Zealand Oil & Gas paced gainers, up 3.4 per cent to 76c after the energy explorer told shareholders at yesterday's annual meeting it plans to return $60 million, or 15c per share, back to them, and is holding enough cash to grow its business as production increases. Still, it doesn't plan any more dividends in the near term while it deducts its exploration expense from its tax bill.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

"The difficulty they need to face is finding something to replace Kupe eventually," said Paul Harrison, head of equities at Salt Fund Management. "They need to find something new, and it's difficult for investors to know what that could be."

OceanaGold Corp led the benchmark higher, up 4.3 per cent to $2.21.

Dividend-paying stocks, such as power companies and property investors, paced decliners on a mixed day in trading, and Harrison said the market was struggling to carry on the exuberance of last week's gains.

"We had such a positive week last week, the market's looking for more signals and is wondering whether it's run its course," he said.

Advertisement
Advertise with NZME.

Mighty River Power led decliners, falling 1.6 per cent to $2.815, followed by Meridian, down 1.2 per cent to $1.62. Among other yield stocks to fall were Goodman Property Trust, which fell 0.9 per cent to $1.10, Vital Healthcare Property Trust down 0.7 per cent to $1.52 and DNZ Property Fund which declined 0.6 per cent to $1.755.

Precinct Properties New Zealand was unchanged at $1.115. The property investor, formerly known as AMP NZ Office, has tapped US investors for US$75 million in a private debt placement with the proceeds to be used to repay debt.

Outside the benchmark index, Blis Technologies slumped 23 per cent to a near three-month low 2c. The Dunedin-based biotech company expects a slower move to profitability after its first-half loss widened to $808,000 from $764,000 a year earlier and says it faces disciplinary action from the stock market regulator over an announcement it made in August.

Car and tractor dealer Colonial Motor Co rose 0.2 per cent to $6.01 after industry figures showed new vehicle sales reached a record in October and are on track for the highest ever annual total this year.

Discover more

Commodities

World on brink of oil price war

05 Oct 04:00 PM
Companies

NZ shares extend gains as NZOG signals capital return

04 Nov 04:47 AM
Shares

Index eases back after strong run

13 Nov 04:30 PM
Official Cash Rate

Big landlords face squeeze

21 Nov 04:00 PM

Sealegs rose 4.2 per cent to 12.5c after the amphibious vehicle maker raised $1.3 million in a private placement to help fund development and working capital needs.

On the NZ Alternative Index, Just Water International rose 7.1 per cent to 15c. Its founder and majority shareholder Tony Falkenstein is offering shareholders 15c per share in a full takeover bid. His investment vehicle, Harvard JV, will waive all conditions, including the 90 per cent minimum acceptance, before it makes the full takeover bid.

Save

    Share this article

Latest from Shares

Premium
Shares

Market close: Fisher & Paykel up as NZ sharemarket closes strongly

Premium
Shares

Market close: High volumes of Infratil lift market after ASX 200 inclusion

Premium
Shares

Market close: Tourism Holdings bounces as NZX trades flat


Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

Advertisement
Advertise with NZME.

Recommended for you

US brokers ceasefire between Israel and Syria as 638 killed in clashes
World

US brokers ceasefire between Israel and Syria as 638 killed in clashes

All Blacks v France third test: All you need to know
All Blacks

All Blacks v France third test: All you need to know

CEO caught in ‘affair’ at Coldplay concert under investigation
World

CEO caught in ‘affair’ at Coldplay concert under investigation

UK sanctions 18 spies in largest move against Russian intelligence
World

UK sanctions 18 spies in largest move against Russian intelligence

Waikato jockey's mates pull wheelies on motorway
New Zealand

Waikato jockey's mates pull wheelies on motorway

Afternoon quiz: Which author wrote the novel The Great Gatsby?
New Zealand

Afternoon quiz: Which author wrote the novel The Great Gatsby?



Latest from Shares

Premium
Premium
Market close: Fisher & Paykel up as NZ sharemarket closes strongly
Shares

Market close: Fisher & Paykel up as NZ sharemarket closes strongly

The NZ sharemarket rallied today as key weighted stocks had strong performances.

17 Jul 06:13 AM
Premium
Premium
Market close: High volumes of Infratil lift market after ASX 200 inclusion
Shares

Market close: High volumes of Infratil lift market after ASX 200 inclusion

16 Jul 05:49 AM
Premium
Premium
Market close: Tourism Holdings bounces as NZX trades flat
Shares

Market close: Tourism Holdings bounces as NZX trades flat

15 Jul 05:47 AM


Solar bat monitors uncover secrets of Auckland’s night sky
Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

06 Jul 09:47 PM

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP
search by queryly Advanced Search